Private sector lender HDFC Bank has hiked its marginal cost of funds based lending rate (MCLR) by 5 basis points (bps) on six-month and three-year tenure to 9.45% and 9.50%, respectively, making loans costlier for borrowers of the bank.

With the change, the HDFC Bank's MCLR interest rates are in the range of 9.10% to 9.50%, potentially impacting borrowing costs for customers.

MCLR is the minimum interest rate a financial institution needs to charge for a specific loan. It dictates the lower limit of the interest rate for a loan

HDFC Bank has announced a rise in its marginal cost of funds-based lending rates (MCLR) for two specific tenures, effective October 7, 2024. The adjustment sees an increase of up to 5 basis points (bps),

HDFC Bank has raised its marginal cost of funds-based lending rates (MCLR) by up to 5 basis points (bps) for certain tenures, effective today. The new MCLR rates now range from 9.10% to 9.50%, which could affect borrowing costs for consumers.